Global alopecia treatment market is estimated to be valued at US$ 9.65 Bn in 2023, and is expected to exhibit a CAGR of 5.6% during the forecast period (2023-2030).
Analysts’ Views on the Global Alopecia Treatment Market:
Global alopecia treatment market is expected to experience steady growth due to the rising prevalence of alopecia that includes conditions like alopecia areata, androgenic alopecia, traction alopecia and others. The market also is also influenced by an increasing focus on hair care.
Figure 1. Global Alopecia Treatment Market Share (%), By Drug Class, 2023
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Global Alopecia Treatment Market - Drivers
Figure 2. Global Alopecia Treatment Market Share (%), By Region, 2023
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Global Alopecia Treatment Market - Regional Analysis
Among region, North America is estimated to hold a dominant position in the global alopecia treatment market growth over the forecast period. North America is estimated to hold 35.9% of the market share in 2023 as key players operating in the market are focusing on product launches. For instance, in June 2022, Eli Lilly and Company, a U.S.-based pharmaceutical company, and Incyte, a global biopharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved OLUMIANT (baricitinib), a once-daily pill, as a first-in-disease systemic treatment for adults with severe alopecia areata (AA), and is available as 4-mg, 2-mg and 1-mg tablets.
Global Alopecia Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of drugs from one place to another.
However, the COVID-19 pandemic had negative impact on the global alopecia treatment market. Economic uncertainties caused by the pandemic have influenced consumer spending behaviors, including spending on non-essential medications or treatments such as those for alopecia.
Alopecia Treatment Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 9.65 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 5.6% | 2030 Value Projection: | US$ 14.16 Bn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Stemson Therapeutics, OliX Pharmaceuticals, Inc, Pfizer Inc, Aclaris Therapeutics, Inc., Fagron, Follicum AB, Cipla Inc., Arcutis Biotherapeutics, Dr. Reddy’s Laboratories Ltd., Himalaya Wellness Company, Stemson Therapeutics, Cosmo Pharmaceuticals N.V., Equillium, Inc., Eli Lilly and Company, Concert Pharmaceuticals Inc., and Teva Pharmaceutical Industries Ltd. |
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Growth Drivers: |
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Restraints & Challenges: |
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Global Alopecia Treatment Market Segmentation:
Global alopecia treatment market is segmented into drug class, disease type, route of administration, distribution channel, and region.
Among all the segmentation, the drug classsegment is expected to dominate the market over the forecast period due to increasing inorganic and organic growth strategies such as product launch and collaboration by market players for the treatment of alopecia.
Global Alopecia Treatment Market - Cross Sectional Analysis:
The key players are focusing on inorganic growth strategies such as license agreement for alopecia treatment, and this expected to drive the market growth in the North America region over the forecast period. For instance, in August 2022, Aclaris Therapeutics, Inc., a clinical-stage biopharmaceutical company that focuses on developing novel drug candidates for immuno-inflammatory diseases, announced a non-exclusive patent license agreement with Eli Lilly and Company (Lilly). Under the license agreement, Aclaris Therapeutics, Inc. granted Lilly non-exclusive rights under certain patents and patent applications that Aclaris exclusively licenses from The Trustees of Columbia University in the City of New York, for the use of baricitinib like Lilly’s JAK inhibitor to treat alopecia areata (AA). The agreement includes an upfront payment, regulatory and commercial milestones, and royalties.
Global Alopecia Treatment Market: Key Developments
Global Alopecia Treatment Market: Key Trends
Global Alopecia Treatment Market: Restraint
Global Alopecia Treatment Market - Key Players
The major players operating in the global alopecia treatment market include Stemson Therapeutics, OliX Pharmaceuticals, Inc, Pfizer Inc., Aclaris Therapeutics, Inc., Fagron, Follicum AB, Cipla Inc., Arcutis Biotherapeutics, Dr. Reddy’s Laboratories Ltd., Himalaya Wellness Company, , Cosmo Pharmaceuticals N.V., Equillium, Inc., Eli Lilly and Company, Concert Pharmaceuticals Inc., and Teva Pharmaceutical Industries Ltd.
Definition: Alopecia (Hair loss) can affect scalp or entire body, and it can be temporary or permanent. It can be the result of heredity, hormonal changes, medical conditions or a normal part of aging. Anyone can lose hair on their head, but it is more common in men.
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About Author
Ghanshyam Shrivastava
Ghanshyam Shrivastava - With over 20 years of experience in the management consulting and research, Ghanshyam Shrivastava serves as a Principal Consultant, bringing extensive expertise in biologics and biosimilars. His primary expertise lies in areas such as market entry and expansion strategy, competitive intelligence, and strategic transformation across diversified portfolio of various drugs used for different therapeutic category and APIs. He excels at identifying key challenges faced by clients and providing robust solutions to enhance their strategic decision-making capabilities. His comprehensive understanding of the market ensures valuable contributions to research reports and business decisions.
Ghanshyam is a sought-after speaker at industry conferences and contributes to various publications on pharma industry.
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